Zacks: Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) Receives Average Recommendation of “Strong Buy” from Analysts

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) has been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.

Analysts have set a twelve-month consensus target price of $32.00 for the company and are forecasting that the company will post $0.45 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Ituran Location and Control Ltd. (US) an industry rank of 220 out of 256 based on the ratings given to related companies.

ITRN has been the subject of a number of recent analyst reports. Barclays decreased their target price on Ituran Location and Control Ltd. (US) from $39.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, August 29th. BidaskClub lowered Ituran Location and Control Ltd. (US) from a “sell” rating to a “strong sell” rating in a research report on Tuesday.

Large investors have recently modified their holdings of the business. Summit Global Investments raised its position in Ituran Location and Control Ltd. (US) by 4.4% in the 2nd quarter. Summit Global Investments now owns 23,500 shares of the industrial products company’s stock worth $707,000 after buying an additional 1,000 shares during the last quarter. Delek Group Ltd. raised its position in Ituran Location and Control Ltd. (US) by 38.5% in the 2nd quarter. Delek Group Ltd. now owns 653,437 shares of the industrial products company’s stock worth $19,351,000 after buying an additional 181,501 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Ituran Location and Control Ltd. (US) by 43.9% during the 2nd quarter. Schroder Investment Management Group now owns 381,279 shares of the industrial products company’s stock valued at $11,473,000 after purchasing an additional 116,300 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Ituran Location and Control Ltd. (US) during the 2nd quarter valued at about $525,000. Finally, Swiss National Bank increased its position in shares of Ituran Location and Control Ltd. (US) by 15.8% during the 2nd quarter. Swiss National Bank now owns 33,725 shares of the industrial products company’s stock valued at $1,015,000 after purchasing an additional 4,600 shares during the last quarter. 61.82% of the stock is owned by institutional investors and hedge funds.

Ituran Location and Control Ltd. (US) stock traded down $0.73 during mid-day trading on Thursday, reaching $24.06. The stock had a trading volume of 29,083 shares, compared to its average volume of 60,808. The company has a market capitalization of $534.82 million, a price-to-earnings ratio of 9.82, a PEG ratio of 0.83 and a beta of 0.91. The company has a 50-day moving average price of $27.06 and a two-hundred day moving average price of $31.24. Ituran Location and Control Ltd. has a one year low of $24.01 and a one year high of $38.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.77 and a quick ratio of 1.51.

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) last issued its earnings results on Wednesday, August 28th. The industrial products company reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.06). Ituran Location and Control Ltd. (US) had a return on equity of 29.72% and a net margin of 20.55%. The business had revenue of $71.24 million during the quarter, compared to analysts’ expectations of $75.09 million. On average, equities research analysts anticipate that Ituran Location and Control Ltd. will post 1.88 earnings per share for the current fiscal year.

The firm also recently announced a — dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be given a $0.24 dividend. This represents a yield of 3.6%. The ex-dividend date is Wednesday, September 25th. Ituran Location and Control Ltd. (US)’s dividend payout ratio (DPR) is 39.18%.

About Ituran Location and Control Ltd. (US)

Ituran Location and Control Ltd., together with its subsidiaries, provides location-based services and wireless communications products in Israel, Brazil, Argentina, and the United States. The company's Location-Based Services segment provides stolen vehicle recovery and tracking services, which locate, track, and recover stolen vehicles for its subscribers; fleet management services that enable corporate and individual customers to track and manage their vehicles in real time; and personal locator services that allow customers to protect valuable merchandise and equipment.

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